| Show AN ERA OF CHEAPER HONEY IONEY IN UTAH UTA UTAI I Business Conditions That Will ViII Wi Probably Result in a u Lower Sav Savings ings Bank Bunk Interest as Vell as Lower Rates q 1 in Other Lines It IL I appears that an nn era ra of ot cheaper money lone monte for the people of Utah l li is about almut to bo be o ushered In Low rates of oC interest on gilt git e edged security have IIVO of ot course obtained for Cor tine the last year y ar or two but the practice In the tho mind of oC leading financiers must now nos bo be ox ex U It 1 Is IB this condition that ho l I causing calming tho tine savings bank directors of thin city to consider consier tho of ot re ro reducing prevailing on safety de do le I from 4 to 3 per ler cent cont contI I It I Is II n a subject that hits has his received con considerable considerable attention by Iy the of oC these Institutions Institution and ant a mum num number lum lumLer bet ber of ot have nh been hold held holdAn An ts already stilted In lit tho the Ie eret News the directors of or zions Sav Ings ft company met af let noon and hat had this minuet matter directly before them Definite action will wi be e taken at nt ati ata I a i to be if held hehl next week In tn the thu meantime tine the question ID is II reedy receiving lag ing lo widespread attention iOU among bank Ing and hu In H men to say ay ny nothing of ot tho tine thought which Is In II applied to It by savings batik bank depositors depositor rH flint and other elmer having money for tor In tin Investment II vestment In order artier to 10 obtain tho the views o of bank bankers ers erH whose Institutions ore tro of ot a strictly commercial not n a savings charac character tOt ter the thc News today Interviewed a number of ot them with the tine following re to resul suit Mr Mi 1 I 1 S 8 huh Hilt 11 of nf the Na sul Hank expressing paid nIt tonal The Tho only wonder onder to trio moo tO Is IB that Hint the tho 4 per cent rato on savings s deports taLe has prevailed 03 as long OB ant 11 It haH In Utah I Iam am satisfied that a ft chiringo minuet murt ml t come caine Tine The great t plethora of ot money now mow In Inn the tho bunks banks tren will wi force torce the adoption of that tUt practice within a 11 very vory short tune Nearly all nIh ni the savings hanl 8 In the tho cast east have been compelled to 10 reduce their rate of ot Interest Interest ant Salt Sni Iko partings banks will sill wi have to tn fall fal in line lino Fine Tho general tendency Is In that that diree direction that tion Hut Jut there tinero should hold bo ito hI no occasion for tor ton alarm as RS the movement will vIlI wi have ho haven havea n a Rood goat effect over the State It I will wil cause clu e a it 1 decrease In all ni Ila ea of ot Inter Interest est cat elt before etore It I lists has his been hren In fovea n a 1 great treat while It I may caUSI some BOll people to take lako out nest their money from tine the bank and loan It tr Iri In the Iho open markets of ot am nail will 1 probably Increase tile the price V Y 9 H said It ft l Is II hardly the thing for tor u a 1 commercial bunker banker to 10 express himself upon Still thu Cite natural trend of ot the money mane market Is lower anti and sooner looner or later we must have havo cheaper Interest here As AI to whether this Is tho the opportune to act net that Is for tor the tho savings batik bank people to determine If I tho tine object sought for Cor hi lit II attained d there thero will wi certainly be cheaper mon moi y over the thu State Stale and people with wih money a seek other othmer Heet Colonel of tine the Commercial National atonal Hank said Bald Arc Are we sv entering cn upon an un era eia el of cheaper money 1 No NoVe We Ve have already entered upon Ullon an aner era er As to what I think of the pro proposed posed reduction of ot Interest on om savings Jrp deposits I have this thin to say It Et Is Inthe In Inthe Inthe the Interest of ot good conservative bunking The rho banks bunks are uro full ful of money mOley and they cannot make loans banns nt rt a 1 H I clent dent Interest to justify u a continuance of ut tho the 4 per cent Cecil basis Interest Is gradually going lower Take Tako United States bonds that a few years ago ngo sold Bold MIl for or 4 per count cent cell they are lre now nets nol on t the market at 2 and even event 1 l per pr p r rent cent Two per cent United States bonds bond are aro selling Heln at ut n a premium of oC about o out G 6 per percent cent cent The rhe net Income on them therm per atM ann an annum num mum Is 18 1 and O nIl all ni of oC which goes to 10 show that people are aro willing by ron rea reaBon rel ronson son Bon lon of tine tho great amount of ot money mOleY they tho mayo have to put mit it It Into absolutely sate safe propositions when whon they bring even a avery avery avery very low rate rule of ot Interest Mr George M 1 Cannon cashier cashie of at Zion Savings Hank did tilt not earn caret ar to La discuss the he directly but hut Savings banks are not designed At A s deposits depositories lea for capitalists but lut for tor or the tho th accommodation ton of or tine the wage earner tho tIme thrifty who wino desIre dealie to accumulate n it little fun funt l tar for future use tiMe The ml van o to the tine depositor over an a In Investment Investment vestment In tocks stocks la itt that the deposit In Inn the inn bank can cun be he drawn In itt cash vt mt tine the III tunes times provided by tine the rules of or the he bank without discount and In Iii this way the III depositor Is II always sure HUt of tine the principal OB OH al well velI 11 as lS the tine interest small smal an lS the tho latter Ilter may many be he Many people pre prefer for fer to know that their money la Is thUn secure with wih small entail profits ruther rut her than take tine tho risk Incident to nn an Investment In the tho best of rise rl e and iund fall tal with wih the market An Another Another n nother other advantage alTered by y savings banks Is that the depositor can make a deposit of o ono one un dollar dolar or over and tnt that ho he h Is 18 not compelled to accumulate larg larger er cr before making his itis hil deposit deposIt Te a effect of ot title It is II that many lany depositors whose first deposit was sos wry very ery small by hy additions Increased ed the th 01 am 01 deposit until It now flOW amounts to nut and In some cases even evel to II ti thousands of ot dollars Another advantage nil Win tage IK lit If that If It becomes necessary to ito use tied part of ot tine the deposit the tho exact amount needed can bo lie withdrawn without In any way wa disturbing the re remainder rt of ot the deposit The directors of ot tIne the Utah Ulah Savings ansi ami Trust Truet company held meld a n meeting at nt 4 o Wednesday afternoon and Ind today gave Jave out the that thal a 1 resolution tion passed ed declaring that the bank hank ton would woul adhere to the tho 4 per Tent cent rate Ir Irrespective irrespective respective of tho the action of ot the other savings banks of ot the city |
